Gold Analysis ==>>Expanding Triangle Pattern!!!

٤ ديسمبر

Gold(XAUUSD)is entering the Resistance zone($2,667-$2,653).

From the point of view of Classical Technical Analysis, Gold seems to be moving in the Expanding Triangle Pattern during the last 3 days.

In terms of Elliott wave theory, Gold appears to be completing a Zigzag Correction(ABC). (Wave B(WXY) was complicated).

Also, Regular Divergence(RD-) between Consecutive Peaks.

I expect Gold to drop to at least $2,642, and if the Support lines(1,2) break, the Heavy Support zone($2,642-$2,620) can also break.

⚠️Note: You can enter a Short position by considering capital management after finding a trigger near the resistance lines or after breaking the Support zone($2,652-$2,648).⚠️


⚠️Note: However, the next few hours(6:45 pm UTC) of Fed Chair Powell's Speech will greatly impact the Gold trend.⚠️

⚠️Note: If the Resistance lines(upper line of triangle) and the Resistance zone($2,667-$2,653) are broken, we should wait for the Gold pump.⚠️


🔔Be sure to follow the updated ideas.🔔

Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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٥ ديسمبر

تم فتح الصفقة

Trade was activated after breaking the Support zone($2,652-$2,648).

٥ ديسمبر

أغلقت الصفقة: تم الوصول للهدف

First Target Done, you can keep your position and RISK-FREE for breaking the Heavy Support zone($2,642-$2,620) and earn more profit. (Possible)

If the support lines (2) are broken, we can expect to break the Heavy Support zone($2,642-$2,620).